➡ The credit rating agency Moody’s has downgraded the U.S. credit rating due to concerns about the country’s growing $36 trillion debt. This could impact President Trump’s plans to cut taxes and affect global markets. Some believe this move by Moody’s is politically motivated, possibly to undermine the Trump administration. Despite the downgrade, U.S. government bonds are still considered safe due to the U.S. being the issuer of the dollar.

➡ The text discusses the concept of numismatics, which is the study or collection of currency, including coins. It explains that commodities, like rice or gold, can be transformed into art, adding value beyond their basic worth. However, in times of crisis, the artistic value may be lost as the commodity is used for its basic purpose, like eating or trading for goods. The text warns against investing in numismatic coins for their artistic value, as this can lead to a speculative bubble that may eventually burst, leaving the investor with only the base value of the commodity.

➡ The text discusses the value and pricing of numismatic coins, with a focus on the most expensive ones sold by Miles Franklin. It also explores the potential risks of government-sanctioned financial schemes like IRAs and 401ks, suggesting that they might not survive in an economic crisis. The text also mentions the idea of storing gold in a ‘dirty man safe’ as a low-tech, tax-free method, but acknowledges the risks of theft. Lastly, it speculates on the future of the Federal Reserve under different political leaderships.

➡ The speaker discusses the value of silver in a potential financial crisis, comparing it to the monetary system in 1910. They suggest that around 100 ounces of silver could sustain a family of four for three to six months during a financial panic, based on the living standards of 1910. However, they note that there’s less silver in circulation now, but more people, which could affect its value. They also mention potential issues like food shortages and highwaymen disrupting supply chains.

➡ In case of a crisis, it’s wise to leave big cities and have a supply of food and resources. It’s suggested to have 25 to 50 ounces of silver per person as a safety measure, and even more if you’re cautious. This silver can also be used as an investment. It’s also recommended to help family and friends who didn’t prepare by having extra silver for them.

See the President pick his nose before we start it. For those of you who want to know, Phil just picked his nose before we started. Now we’re recording. I’m not gonna let him get away with it. Okay, hey, guys, for the record, hold on. For the record, it was a side. It wasn’t. It wasn’t digging for gold. I was like, oh, no, he has. He has enough gold. He doesn’t need to pick his nose too deeply. I’ve got five cents. That’s another advantage of being a stacker, right? You can just pick the side. It’s a side nose wipe.

That’s. That’s what the. That’s what the British call it. So this is. Hey, guys, this is Rafi from the Endgame Investor. This is the. This, this month’s edition of the Bitter End Game draft. I’ve got Phil online and we’re going to talk about the Moody’s downgrade numismatics and how much silver you need to get through the end game to feed and clothe and house your family for three months. I don’t think it should cost anything to clothe anyone because there’s like always piles of clothing and all these clothing recycling garbages all around my city all the time.

So I think you don’t have to clothe at all. I mean, you do have to clothe, probably. I don’t think we’re going to all turn into nudists during the egg game, but it’s possible. Yeah. And you don’t want to use the clothing for fuel or for heating because it’s all plastic and you’ll probably kill yourself, which you might do anyway just by wearing that clothing. It’s pretty bad quality. And my kids clothing just falls apart like a few days after they get it. We had to buy shoe glue, right? We had to. Shoe putty. I was just talking about shoe putty the other day.

I had to. I had to get shoe putty and, and some kind of balm. And then, you know, I was thinking of that idiocracy scene where he is not sure what to put in your mouth and which one goes in your butt. And you know, you don’t want to mix these things up. Goes in your mouth and this one goes in your butt. Hang on a second. This one, this one, this one goes in your mouth, et cetera. I’m going off on tangents here. Maybe the end game is close and that’s why I’m getting really humor value.

That’s okay. This is what the people want, right? Am I recording Yeah, I am. Yes, you are. Right. Okay, so we wanted to start first of all, Phil, toss, how you doing? And then let’s get going with the Moody’s downgrade. And I have a Reuters, A Reuters article that I just found. And we’ll go through it and why this is either important or not important or stupid or not stupid. What’s your take? Does it matter? Well, I’m doing well. Rafi, how are you? Hey, Azang essay. Don’t want to sound like a dick or nothing, but it says on your chart that you’re fucked up.

You talk like a. And your shit’s all retarded. All right, let’s begin with the Moody’s downgrade. Okay, Moody’s downgrade. Is it. Is it Just obviously they cited Moody’s downgraded to AA1, which is kind of like the steak sauce. That’s how you know that the US is done. A1 is how steak is done. Because movies downgraded them. I got to put that in. I. I just 90s commercials, and I like a one only on, like, subpar steak, not really good steak because it kind of drowns out the taste of actual meat. But do you like A one on your government debt? Like, if I were to take, like a bond and put a one on it, I could probably.

I could probably stomach that. That’s not so bad. Yeah. So right. Right after markets closed, Moody’s kind of dropped a little bit of a bomb where they were. They were the last one holding out that the US Debt was, you know, as good as gold. You know, sovereign debt of the United States was AAA rated. Nothing better on this world than to own some U.S. treasuries. So they dropped a bomb that. And they’re blaming, you know, they’re blaming Congress unable to come up with a deal or whatever. I mean, the truth is this is all I.

I think this is my interpretation. I think all three of them got. They got really reamed out in 2008 for not cover, you know, not correctly identifying gaps in their ratings. So they were giving all, you know, all this. All this crap mortgage debt. They were rating as, you know, AAA or double whatever. They were giving a great ratings when in reality it was junk debt. I think they’re. They don’t want to have the same thing happen to them now with the sovereign debt. But they’re also not. The true value of the US Debt is worthless.

I mean, they. This should be beyond worse than junk bond status. But they’re not, you know, they’re not going to do that because they are part of, I mean, Moody, Moody’s and Fitch and S and P. Right now, their sole job is to prop up the inflationary system by, you know, giving their fake standard of approved stamp of approval that this debt, this debt is still good to be repaid. They’re just lowering it slightly from AAA down to double A plus or whatever, whatever the stupid rating system is, so they can say, well, we, you know, we warned people that it wasn’t perfect debt.

You know, I, I don’t even know if these rating agencies are going to survive the end game. I mean, they certainly have. Their reputations are in tatters from the last time. I, I don’t, I don’t hold any weight at all as to what Moody’s thinks of, of debt. A debt value is worth. Yeah, you don’t personally. But I think, I don’t know how old Moody’s is or when they started or when people actually took them seriously or when the services they provided to the market were actually important. I would assume, like, when they’re first starting out, I, I should look at the history of this.

But when they’re first starting out, you didn’t have expertise in the rating of bonds. So if you were a company and you wanted to invest in bonds, then you would need a. To know what the ratings are. And they could, it could be very nuanced, but now everybody knows that the US Is bankrupt, and you still have these ratings agencies saying, double A, triple A, triple A1, whatever, double A1. And it doesn’t really mean it, it doesn’t mean anything to individuals because it’s, it’s so asinine. I mean, the, the whole, the whole idea of raiding US Government debt, like, I mean, even if you’re a Moody’s and you understood that this thing is going to hell if you downgrade it to junk status, you’re basically bankrupting yourself as well, because you use dollars.

Yeah. So they’re, they’re totally stuck in this, as is everyone else. Yeah, we’re all, we’re all captured. Yeah, yeah, everyone’s just captured by the inflation. Sorry, go ahead. Since there are so many algorithms and regulations that require a certain rating for certain institutions to invest, be they pension funds or name some other funds that, I don’t know, endowment funds for colleges. They all have these regulations. So you have to have this rating or higher on the. And then you have to follow the rule book. Doesn’t matter what the rating means in reality. It’s just like it’s part of the Checking system, okay, that rating.

Blah, blah, blah. Put it in there. That’s all it is. Nobody’s actually thinking about anything anymore. And everyone is so part of an extremely sclerotic system where nothing can move on its own volition. And if you have an idea that actually makes sense, you just get fired. That. That’s pretty much with every industry now. Like, if you. If you think independently, they’ll fire you. It doesn’t matter what industry you’re in. Yeah, which is. Which is why we walk. Which is why we have to work on the fringes, which is where we operate, because this is the only freedom left.

Like, the only freedom you have is on podcasts where Phil and Rafi talk about crap. And, like, we’re just. Joe. We’re just like two Joe Rogans about talking about money. You know, just shooting the. As they say, because we’re the only people that are saying anything. We could be wrong, but at least we’re saying it. So do you think. Do you think on Monday, tomorrow, when the market’s open, do you think that Moody’s downgrade will have some sort of effect? I mean, do you think it’ll have a catalytic effect? It might have a. Might have a.

You know, there might be a dip, but do you think it’s going to start something? Start a snowball? I don’t know. Okay, there’s some possibilities here. If. If it starts something, it would only be because of algorithms that are shifting their weightings of certain things or other to other things, because that’s what the rule book says. Nothing fundamental has changed since Friday. The. The US Is still bankrupt. Everybody still knows it. And Moody’s had. I don’t know why they had to do this now. You know, I didn’t. Fitch or. What’s the other one? S P. They are.

They already downgraded us. That movies is the last one. Yes. Okay, so S P did it in 2008, and then Fitch, I think, did it in 2011. No. Oh, after. No, no, it was right after Covid. Okay, right. I remember they called it the Tea Party downgrade or something. It was also. So if this downgrade causes massive funds with multi. Billions of dollars of treasuries in them to say, oh, well, now that Moody says it’s not AAA anymore, we can’t have this thing in our portfolio, so we have to sell it. And so if that automatically leads to machine selling, then, yes, something could happen.

But then again, you could have somebody at the head of some huge pension fund or insurance fund saying, well, it doesn’t matter what Moody says. We have to change that rule. And I’m not going to allow this, you know, machine selling, because what else is there? What am I going to invest in? Greek bonds, you know, as bankrupt as the US is, it still has a reserve currency, so it can still spread its inflation everywhere else, whereas the rest of the world can’t. So on a. On a very narrow Keynesian definition of what safety is, you.

As government bonds are still the safest thing in that. Within that system, it doesn’t mean they’re safe. It just means compared to everything else, they’re defined as a word we call safe, or that. That resembles what used to be safety. So if every. So if everything’s been reduced from AAA down to double A plus or whatever, then that’s just a deflation of the Moody’s rating system, because the top, the top rated, safest thing is now double A plus, not aaa. Everyone can be super, and when everyone’s super, no one will be. Yeah, that. It could be that.

Yeah, that’s a good way to put it. Because the safety isn’t the rating. The safety is the fact that it’s the issuer of the dollar. You know, that’s the, that’s the safety of it, and that hasn’t gone away. What Moody’s thinks about, about the government debt also doesn’t matter because they can’t lower the. Ironically, it would be much less safe for government bonds if they were to stop issuing more government bonds and then allow the whole system to collapse in a deflationary spiral. That would be much worse for, for treasury bonds. I don’t know what to make of.

I don’t know what the motivation behind this Moody’s move was, except the people are saying it’s political. And it may be. It may be that, you know, people are. It may be that they’re trying to punish the Trump administration or the, or the GOP from, you know, the fiscal hawks and the gop. I mean, not that any of this is any more than theater or that if, you know, if even the fiscal hawks were going to win, if they somehow got the budget in order, we’d still have the end. There’s nothing stopping that. So the, the political fight over.

It doesn’t really, doesn’t really matter very much, but there is something to think that maybe that’s, maybe that’s the underlying cause of why Moody’s decided to strike now. Okay, yeah, they were, they were villainized in the big short. They had a few key scenes there, and There was this one scene with this woman with, like, big sunglasses because she has some kind of, like, cor. Scratch or some kind of eye issue. So they’re making her look like the blind woman who doesn’t know anything. And. And the. The Steve Carell character who worked at Morgan Stanley, I think he comes in and he says, like, what the hell is wrong with you? Why are you raiding these bonds this way? And then she’s like, well, what else are we going to do? They pay the bills.

That’s. That’s basically what it is. It’s all a big circle jerk of people paying dollars to each other, and then they’re going to rate their own dollars down. I mean, I. I don’t know. I mean, can Moody’s short the bond market and then change their rating? Can they even do that? If we don’t give them the ratings, they’ll go to Moody’s right down the block. If we don’t work with them, they will go to our competitors. Not our fault. Simply the way the world works. And I never said that. They’re selling ratings for fees. A rating shot anyway, so we have your Moody’s cuts.

America’s pristine. Pristine. Like a pristine landfill. Untouched by. By natural. Untouched by forest. By. By. David. Is that David or Dave? Davide. David. I’m pretty sure David. David Barbushia and Pushkala Aripaka. What the. Who is right? Like, are they getting, like, these Indian day laborers from. I don’t know what’s going on. Who. Who writes for white. I get. They get. They get articles for 50 cents on the dollar now. Yeah. Importing. By importing labor for the articles. Yeah, you have these, like, Indian slaves somewhere, and they’re just, like, typing in a. Oh, you could just chat GPT.

Maybe they chat GPT. Indian names. I don’t even know if these people are real. Whatever. So it says here, May 16, Reuters. Moody’s downgraded the U. S. Sovereign credit rating on Friday due to concerns about the nation’s growing $36 trillion debt pile. Now suddenly they’re concerned, right? Everything’s fine. 35 trillion. Everything fine. 36 trillion. Oh, guys. Hey, Take it down a little bit. Yeah. In a move that could complicate President Donald Trump’s efforts to cut taxes and send ripples through global markets. It’s interesting that that’s what they pick. Like, that’s. They’re trying to throw, like a.

Throw a wrench in Trump’s plans to send. To cut taxes. Yeah, that’s. That’s what I was saying. They’re, I mean, they’re picking excuses out of their mind. Yeah. Okay, so Moody’s. Moody’s first gave the United States its pristine triple a rating in 1919 and is the last of the three major credit agencies to downgrade it. Friday’s cut by one notch to double a one shows a change in 2023 and the agency’s outlook on the sovereign due to wider fiscal deficits and higher interest payments. You know that. So that, that shows you that, that, that Doge has basically done nothing.

Not they have done, they haven’t done nothing. They’ve done some nice work, but all they can. Yeah. What do Doge expose where the, I mean, the money was going somewhere. Doge just exposed where it was going where, where all the sloshy fake dollar money generating stuff. I mean, we, we knew it was going to stupid places. Dogeous was like, oh, here it is, you know, lifted up the rock and all the cockroaches scurried out. I mean, we knew it, you know, it was just, it was just confirmation. And of course it can’t. Like, once again, you and, you and I both know this, none of this changes anything.

If Doge was, if Doge was a miracle worker and, you know, the, the, the GOP elected hard, hard Ron Paul style, cut the government down to the bone, we’d still have a deflationary crash. The work the likes of which the world had never seen before. I mean, there’s no, there’s no smooth way out of this. There’s no, there’s no glide path off this, off this course. So. Yep, you know, I mean, I’m much more, I’m much more just like, let’s just get this over with. I’m not sitting there trying to, I’m not sitting there trying to navigate our way through this like, oh, if we just, if we just did it this way.

If we just did it this way. I’m like, nope, nope, nope, we’re gonna crash, so we might as well, Might as well point the nose straight down. Just go right into the mountain and then we can dust ourselves off and get back to work. Yeah. So I want to read this sentence just so I can put a meme in. Stephen Moore. I think I know who he is. Stephen Moore, a former senior economic advisor to Trump and an economist at Heritage foundation, called the move outrageous. This is an outrage. I demand an investigation. You can’t sell our seats.

If a U. S backed government bond isn’t triple A asset, then what is. He told Reuters he has a point. I Don’t know. What is gold? Yeah, I mean, can you, like, give gold a rating? You can give a gold issuer rating. Well, doesn’t. Doesn’t BIS consider gold a tier one asset? Isn’t that a whole thing? Oh, we’ve been through that. No, there’s no such thing as a tier one asset. It’s Tier one capital. Capital is on the other side of the balance sheet. Okay. Okay. Yeah, this, that’s. That kind of balance sheet stuff gets. Gets over my head real quick.

So. Yeah, mine too. I don’t, I don’t fully. I still don’t fully understand it, but the LBMA came out with the state. I came out, I talked about this in my last video that. They came out with a statement that, yeah, this is not. This whole Basel 3 is going to change the nature of gold on balance sheets are like, no, it’s not true. It’s. Nothing’s. Nothing’s changed. Yeah. All right, I think that covers Moody’s. We want to move on to numismatics. And I’ll start. I just, I just did a video on that. So if the definition of money is the most liquid commodity in the market, you and I accept that, and hopefully the viewer does as well.

A commodities, by definition, a commodity is completely interchangeable with another commodity. That’s. That’s part. It’s funny. It’s. It’s fungible and interchangeable. So you think of a bag of basmati rice, right? Each grain of rice is completely indistinguishable and interchangeable with any other grain of rice. So if I owe you a cup of rice, I just go, I get out a cup, or I don’t look for particular grains, I just scoop it out and go over and give it to you. If there’s some sort of differentiation, then it’s no longer a commodity. If some, if some of the.

If some of the rice has been eaten by weevils and some of the rice is fine, the rice that’s been eaten by weevils is no longer the same commodity of the rice that is sitting there just fine. They’re different. They’re different goods. Now, one is ruined rice and one is perfectly fine rice. Likewise, if I take the rice, if I take the basmati rice and I’m an artist and I make out of the rice, I make a full 172 scale replica of the Taj Mahal is a giant work of art, you know, takes up half my.

Half my basement back here, and I’ve made this thing out of rice. The commodity is still the rice. Like, I just, I’ve made art out of the rice. Same as if your daughter made a macaroni necklace, right? So I made art out of rice. Now I could take this Taj Mahal made out of basmati rice to dealers and say, hey, I would like to sell this. And it’s a beautiful work of art. You know, looks, looks, looks really cool. And it says a statement about how, you know, rice is the source of India’s greatness or something.

And, you know, I can sell it on the open market, but I’m, I’m not. I wouldn’t just be selling it for the value of the bag of rice. I’m selling it for the art I have put on, I have made using the bag of rice. So I have imbued artistic, hypothetically, I’ve imbued artistic value onto this rice. Now if, if I get really hungry, let’s say there’s a famine. The end game hits and there’s a famine. I can boil that, I can take down that sculpture and boil the rice and eat it. But making it into the sculpture of the Taj Mahal conferred no advantage to me to eat it if I just need to boil it down to eat it.

Right. So the same thing is true with the money. Good, right? If I have a bar of gold that’s money. If I shape it into a coin, especially a proof coin, right? So I take it, I shape it, I put the extra work in to make the details extra fine, and then I wrap it in plastic and it’s this beautiful coin. And if it’s touched, if any human hand gets in touch with it or if it scratches just the slightest bit, you know, the numismatic value, you know, collapses on us. I can then take that coin and say, look at this beautiful coin I have made out of that bar of gold.

And the artistic value is more than the, just the monetary value. And there are, there are collectors for these coins. What’s his face? Mario’s friend Clive. He’s always on a show. Mars from. Clive is a collector of some British coins. He likes to collect the British gold coins. And, you know, every, every year the British, the British mint makes different coin. You know, they make the, they make, you know, it’s not Lady Liberty. Who is it? It’s it the Queen. It’s somebody. It’s. It’ll be like Britannia, the goddess Britannia. I think there’s, you know, it’s like the goddess Britannia stepping on a snake and then the goddess Britannia riding a unicorn and then the lion.

Then, then there’s a lion and a unicorn wand in the back there. You know, it’s. It’s all different, you know, things from. From England’s past and history and mythology and they’re beautiful. They look great. And every year there’s new issuances. So somebody might try to collect and they’ll make you. They’ll make like 12 different coins. So somebody who might try to collect all 12 gold coins from the year 2020, and then they can display that on their box and people can come by and say, oh, wow, that’s really neat that you have all 12 of these beautiful gold coins and you pay a premium because these coins look extra nice.

They’re not designed to be. Even though they have a pound value on them and they have the gold value, they’re not designed at all to be used in circulation. The premium comes from their pristine nature. We have taken money and we have made it a pristine. We’ve taken a. We’ve made a pristine art form of money that you can display in her desk as a example of the beauty of a coin made out of. Of gold. In addition to the collectors, there are speculators. And the speculators have no interest in the collecting value of the money, but they see the collectors collecting and they jump on board to try to arbitrage.

They’re trying to catch the gains, right? They want to catch the spread, get a little bit of the spread between the original seller and the people at the endpoint collectors. The problem is when you buy these, we don’t know who’s a collector, who’s a speculator. And if there are more speculators than collectors, you end up with a bubble where speculators are just fluffing each other up. So you’ve created a speculative bubble and all bubbles eventually pop. So when the, when the bubble pops, any of that additional speculation, whatever. Whatever the, whatever it is, above the endpoint, collectors goes away.

So the IRA dealers that sell these rare numismatic coins say, see, look how much more the, you know, lady goddess Britannia riding a dragon is worth on the open market compared to, you know, just, just a standard gold bullion coin. Therefore, we can charge you, you know, a third more to stack in your ira. And don’t worry, the collectors are there. But if the collectors are not there, and there’s. There’s pretty good reason to think that the collectors are not there in good reason in, in large numbers, that it’s mostly just speculators like the, like the little ladies who are getting duped into these ira, building IRA funds.

Then when this, when that pops, it’s just, you know, the, the, they find out they can’t really get that much more than melt, you know, additionally in a mon. And remember, once you add the end game on top of this, in a monetary panic, what is needed? Rafi? Money. Money is the thing that is needed and the money is the base commodity underneath the art. So the monetary value of the gold goes absolutely to the moon, but the artistic value doesn’t really, if it moves at all, it probably moves down a bit. So. And what is this represented by? This is represented by women taking their, you know, when they go to the butcher shop to get some meat for their children, they take their gold necklace and they, they literally clip a weight of gold off of it and just put the weight of gold on the scale.

Now that’s destroyed the artistic value of the necklace. Likewise with the new madness, numismatic coin. If you’re hungry, you need some food and you have this gold, you have this beautiful gold coin here, what do you do? You take it down to the butcher and you shave off a little bit of, of gold flakes into the butcher shops, you know, a scale, and then he gives you some meat. Once again, that has absolutely destroyed whatever numismatic value there was at the coin. So if you’re talking about a monetary panic, the numismatics do absolutely nothing. They might do something before or after the panic, but in terms of artistic value, especially, especially after the panic, if everybody melts down the numismatic coins to, or, you know, shakes them off, then whatever new mismatic coins do survive might be worth a lot more.

But, you know, that’s, that’s a, that’s a game that you don’t necessarily need to play. And I, I, for, for people that are especially like little ladies that want to move their gold to protect in an IRA form, in an IRA fund, just, just, just move it into bullion. You don’t need to play the, the numismatic game. Your thoughts. So, two thoughts. And I want to seg into Miles Franklin here because I, I got some comments regarding Miles Franklin and numismatics because they don’t focus on numismatics. It’s not that they don’t sell any numismatics at all.

While you were talking, I looked at their numismatic page. They weren’t saying that Miles Franklin scammed them into anything or anything like that, but like I said that they don’t focus on numismatic like. No, they do. Look at this. So here’s the numismatic page. So I, I, I, I filtered it to high to low. So this is the most expensive numismatic coin that, that Miles Franklin sells. And it’s $4,301. So it’s a, it’s a 1 ounce $20 double eagle coin. Right. I think those are about 1 ounce if I’m not mistaken. And okay, so 4301, it’s like, it’s like a 25 premium.

Yeah, it’s a big premium. I wouldn’t be willing to buy it but like. Right, the next Most expensive is 37.23. I mean that’s not such a big premium. I mean this is the most expensive. It’s okay, so Miles Franklin knows that there’s some people who want like really cool coins and they’re willing to pay a little bit of a premium for it. So good, sell it, whatever, you know. But no, they, they don’t, they don’t push anybody into it. Like if somebody’s interested in a numismatic coin, they’ll be sure. Here, this is what we have. You want it? Dang it.

That there’s, there’s no problem with that. Say you can, you can check out Miles Franklin in the description below. Oh, I was looking up also commodious commodity. So it’s from commodious, which means like beneficial or roomy or like convenient. Like a commode. Right. A toilet or the Emperor Commodus, maybe he meant, maybe his, his name meant convenient. I was, I wanted to know if it had anything to do with, with uniformity, but apparently not. It’s just convenient. Yeah, Convenience. Yeah, convenience. I’m not sure, maybe that had, yeah, maybe there’s a link back in ancient, ancient Rome, but I, I don’t know.

Yeah, and when you go in the commode, you produce a commodity, you know, not for our fertilizer. Yeah. So the, the other thing I want to say about numismatics is I’d like to see a chart of, of how these things are priced. You know, just a collection of coins and what the premium is in terms of just what the, not the, not the, the raw price in dollars, but the premiums over spot. Why, why would they get higher? My theory is that they would, they would reach a climax at the point of a re. Inflation. All right, let’s say like 2021, late 2021, when all the COVID money was like rocketing into the, to the economy and it was rebuilding the credit bubble.

So at the peak of a credit bubble the value of numismatic should be the highest. But in order for speculators to come in, you need, you need these inflation receptacle people because these are the ones that are buying numismatics. And, and so you can’t be in an end game situation because in the end game situation all the numismatic value is going to not crash zero, but it’s going to, it’s going to severely impact the amount of collectors that there are out there and it’s going to severely impact the numismatic value. Not completely eradicated, but it’s, it’s not going to be, it’s not going to be good for you.

So yeah, that’s why, that’s one of the reasons why we picked Miles Franklin, because we don’t want to mess with that. And I wanted to also talk about IRAs, since you’re talking about that. Not IRA specifically, but any sort of government sanctioned scheme. A scheme in the neutral sense of the term, not like a scheme like, like they’re trying to rob you, but any sort of organization or plan that the government wants to funnel your money into a certain vehicle and they promise that they’ll give you tax benefits for it. I think, I’m not so sure how, if any of these are going to survive the end game.

They might, I mean, it depends how grabby the government gets. But once they know you have an IRA, once they know you have a 401k, they know exactly where your money is. They, they could just take it. Just, just like they would take gold out of an ETF that you might own. Which, which brings us back to the dirty man safe. That’s really the lowest tech way to hide your gold tax free. Not that I’m recommending that you should pay taxes on all the gold that you, that you own. Because at all times. Yeah, all, all time.

But I think that in terms of institutionalized theft, you might get robbed if you know, somebody comes with a, a metal detector into your backyard. But it’s going to be very difficult for the institutions to rob you if you have a dirty man safe in your backyard, because they don’t have the manpower to go door to door and find that stuff. Yeah. So there’s, there’s, there’s, no matter what you do, there’s risk of theft. If you vault, there’s risk of government theft or, or the vault themselves stealing from you. And if you, if you hold it privately, there’s risks of thieves coming and you know, doing, doing, doing horrible things to you until you tell them where the goal is.

I’d be, I’d be much more nervous holding an IRA or a 401k or any government sanctioned program. They promise you all these tax benefits and, and I had to, I had to put some in. I put the minimum amount, right? But people all around me are like, why don’t you put in the maximum? Because if you put the maximum, you pay the li. The least amount of taxes and you’re just, you know, you’re just pissing your money away and I’ it’s the opposite. Like, you’re showing the government your entire hand. Like, don’t you understand? Like, what do you mean you’re just going to steal it? That’s crazy.

Well, okay, fine, then I’m crazy. But like, don’t come to me when they steal all your stuff. So I, I had a 401k, like a traditional 401k, because I did. I wasn’t thinking about the monetary system and I just was like, oh, yeah, like, just as you said. I said, oh, put in the best, you know, avoid all the taxes, save for retirement, all that stuff. Then I, you know, watched your show, educated myself, learned that this was all big scam. But the problem is it’s, you know, to pull it out, you have to take. You have to pay.

You have to pay an early withdrawal fee, plus all the taxes, and you just end up with not very much. And it’s, it’s designed to keep you in the system. So I turned it into a gold IRA and I vaulted it in Texas. My. My theory is that Texas will be the most likely to give the federal government the finger and not. Not let the feds come and loot the volts. Could I be wrong? I could, but what, what all, you know, what were my choices? You know, I, Yeah. Got a vault somewhere. And also, also because I’m public, I want to have most of my.

At least my personal decision is to keep most of it away from me. In, in professional vaults. I don’t want to have large stacks near me. I don’t think it’s. I don’t think it’s safe. Yeah, I don’t think. I don’t think you should have large stacks near you either. Yeah, they should. I think most of your gold and silver should be vaulted, but you have to have some with you in case of emergency. That’s, you know, that’s my philos be. I wanted to say something else about ira, so I, Maybe we should get like an endgame bet going.

Do. Do you think that, that these 401ks, IRAs, whatever they are, do you really think they’re going to survive? Because what I see is not, maybe not necessarily a hard theft immediately, but it’ll be, it’ll sort of be like in the 1930s when there was, when there was a patriotic call for Americans to give the government their gold so that they could solve the monetary situation. They could keep the banks running and reopen the banks. If, if your bank had shut down because there wasn’t enough money, like if you give them your gold, then the Fed can reopen the bank.

So, you know, it really depends on who, it depends on who gets in. You know, if people vote in a socialist, then, yeah, we’re going to have a, that’s going to happen. Absolutely. Would I, I mean, if, if Trump presides over this for the next few years, I, I think it’s probably less than 50, 50 that it happens. I’m, I’m fairly optimistic. He seems, yeah, he seems reasonably free market. I don’t, I think he’ll destroy the. I think he’ll take, I think he’ll do Samson and just like pull the whole temple down around him. I think he’ll blame the Fed for ruining his brilliant plan to tariff our way into prosperity and then shut down.

Fed. Shut down the Fed is an excuse to use him as a scapegoat. Why not? Well, he has like, shimshun type of hair. You know, he’s the man. And he’d also, I mean, yeah, I, I think that’ll be a perfect chance to, like, blame the Fed. Certainly his side is willing to blame the Fed. There’s plenty of people that, you know, hate, hate the Fed and the Fed is rightfully, it’s right for us to hate the Fed. So I think it’s a good chance. But, you know, when people are getting hungry and there’s, there’s going to be somebody on the other side who’s going to be charismatic and say, you know, it’s, it’s, you know, the, the billionaire, the millionaires and the billionaires stole from you and elect me and I’ sure, they pay their fair share.

Chicken in every pot. And yeah, if, if, if, if people go that route, then, then I, you know, I might have to move my goal to the Cayman Islands or something if I can. I don’t know. My plan, I mean, my plan is as soon as, as soon as the monetary system gets set back up, my plan is to cash that gold into cash because the taxes are still not going to be working very well. So Turn that into cash, and then turn that cash into property or whatever assets as quickly as possible. I don’t play.

I don’t plan on holding a lot of gold, you know, on the other side of this for very long. Yeah, neither do I. The, the third thing you wanted to talk about was how much silver is needed to get through the end game. You made some calculations about this on your channel. Yes. What are they? They were actually lower than I expected. Yeah, a lot lower than I expected as well. So I get this. You get this question. In fact, I think I emailed this question to you early on. I was like, what do I need? I get this question once a week.

And so finally I said, look, let me just sit down and try and calculate what it looks like. And the best I can do is. The best you can really do is go back to pre Fed. So go back to 1910. And what did the monetary system look like then? What were people paid and what did it buy? So if you look at a day labor, and this is like a New York City recent immigrant factory worker got paid $2 a day. It was $2 a day. And this was, this was silver backed by gold. The dollar was backed by gold at, you know, 20 to 20.67.

And you could be paid in physical silver as well. And the gold silver ratio at that time was 39. So if you do the math on that, what year is this? 1910. 1910. Okay, 1910. So if you do the math on that, remember, it went, it went to 15 to 1, and by 1919. So the, the, the. If you do the math, when Moody’s. When Moody’s first issued the AAA credit rating to the US sovereign, it’s all connected. Yeah. So a $2 a day would feed, clothe, and house a family of like eight in a tenement in New York City.

I mean, you know, primary breadwinner. Now, maybe the oldest son is also working or new. You know, maybe the middle son’s a newspaper boy, and maybe the girls are selling some cookies on the side or something. You know, maybe there’s some, some supplemental additional income. However, the father was always the main primary breadwinner. And, you know, if the father got injured at the factory, it was, it was really hard times. So, you know, that it was assumed, you know, that, that, that’s sort of the way the, the, the world was at the time. So let’s. We’re going to take that $2 and we’re going to move it to.

And so assuming silver quarters, we’re. We’re going to assume he was paid in silver quarters. Just, just for the sake of mathematical simplicity, if you do that, if you do the math on that, that ends up being 1.35 ounces of silver per day. So over the course in a man works 300 days a year. In 1910, the average man work 300 days a year. So you do the math on that and you get up with 435 ounces per year. So 435 ounces per year to feed clothes and house a family of eight in a tenement in New York City.

So that’s. Now that’s at survival rations. So this right above survival rations. So the kids aren’t really getting new clothes. The middle kids and the younger kids are definitely getting. The older kids hand me downs. And everyone looks kind of tattered and ragged. However, everyone’s fed, no one’s starving, and people are generally happy enough. So you can look at 100 ounces of silver roughly. We’ll feed clothes and hounds a family of eight at a comfort level slightly above, you know, survival or scrounging. So if you do the math on a modern American family, and maybe it’s different in Israel, but in modern American family, it’s usually about four people.

So you can pretty much double the comfort because you have, you have half the mouse to feed. So you can double the comfort level. So you can double the amount of meat, you can double the amount of clothes, you can double the comfortness of the shelter, and you can roughly say, well, okay, so 100 ounces of silver. Sorry, 400 ounces. Where did I get the 100? Oh, that’s for three months. I missed that part up. Let me, let me redo that. 435 ounces of silver will feed clothes and house a family of eight for a year.

So for three months of a financial. I. Most financial panics last three to six months. So if you, if you want to feed clothes and house a family of eight for the duration of a financial panic, you need about 100. Around 100 ounces of silver. A little bit more. Now cut the family size of 8 and a half and you can double the comfort levels. So I think for, for reasonable comfort for a family of four through. For the three to six months of a financial panic, about a hundred, a little bit more than 100 ounces of silver would be reasonable in 1910.

Now, there are some other considerations to take into, to take into consideration the. There’s far less silver in circulation than there was in 1910. Almost nobody has much silver at all except for maybe some jewelry or from, for some leftover, you know, family tea set. Silver tea set from back in the day. There’s less silver in circulation, but there’s more silver that exists now than back then, Right? Yeah, but it’s not circuit. They don’t have, people don’t have it. So during the financial panic they’re going to need it. Who has it besides the who. Who has it? It still exists.

Where’d it go? Yeah, I’m assuming it’s been in maybe an industrial, you know, company’s vaults that are going to be building electric cars and stuff like that. I’m not sure. I don’t, I don’t know where it is. Or in large ETF. The large ETFs have a whole bunch of it. So it’s, there’s a half a billion of it in New York. We know that. Yeah. Okay. So it’s in these large centralized vaults. It’s not dispersed among the people. That’s that, but that’s where it needs to be to be A. Money is dispersed amongst the people. So for the duration for, especially in the early days of the panic, I would expect the silver, you know, to, to carry much farther than it did in a normal day in 1910.

Yeah. And that, that would incentivize the hordes to be dispersed. Yeah, yeah. That will disgorge it. So. But the early days is where it’s going to have the most effect and that’s going to be the height of the panic too, is the early days of the panic. So, so that’s one consideration. So it may be, it may be Even less than 100 ounces is required for that, for that base. And I’m just. Everything, of course you should stack as much as possible, dear viewer, but I’m saying for the, for the amount you want to out, because you’re thinking, most viewers are thinking how much do I want to allocate towards survival and how much do I need to allocate towards, you know, the, the buying the assets, getting the Lamborghini, getting the yacht, all that kind of stuff.

Right. So what I’m saying, what I’m saying is based on my calculations, you don’t need to put that much towards the basic survival. It looks like you can do if, if you’re calculating for a six month panic, maybe 200 ounces of silver for a family of four. And it might even be much less than that if there’s, there’s much less silver in circulation and there’s Way, way, way more people than there were in 1910. There’s probably 10 times as many people as there were in 1910. So the silver will probably stretch much farther than it did in 1910, is my guess.

The only counter consideration I can come up with is that if the food is not making it, if you’re in a reasonable population center and the food is not making it to the population center because it’s being weight, you know, there’s highwaymen that are waylaying the trucks, so the truck, you know, the farmer loads his truck, tries to get in the city, highwaymen show up, kill the farmer, loot the truck and the food for whatever reason, these, you know, the market’s not allowed to clear, the food is not making it into the city, then I think it might be like a siege situation where the food inside the city gets extraordinarily expensive, even in real money terms.

So bought. But that’s the only. That’s really the only consideration I can think of that would counter, you know, the prices being much lower than normal. Yeah, which is why you want to get out of big cities. You don’t want to be in the, In a big city in the end game. It’s just not smart. And also have a sort. Have some food, you know, have a couple months worth of food I think on hand is probably pretty reasonable. And some grow, Grow some food in your backyard. Have some chickens like Rafi does if, if, if you can.

I, I don’t think my HOA will let me have chickens in the backyard, but my government didn’t either. But then we quoted them a law that says that we could have chickens. Oh, nice. Yeah. Well, and then they stopped digging up some obscure laws. Bottom line for the, for the viewer, 20. I think 25 to 50 ounces of silver per person should be enough to carry you through the end game. And also stat, you know, consider this. I’m sure everybody here has family that did that, thinks they’re crazy and didn’t listen to them and didn’t stack at all.

If you don’t want them to starve. 25, 50 ounces of silver for them as well. And any friends you want to save anyone like that. But other than that, I think. I think you can consider the rest of your stack as investment potential. Yeah, it’s not, it’s really not that much. I would put the number a little bit higher just because I’m more nervous and more uncertainty. So I, I would, I would air even. Even if you were to like, double or triple those recommendations. It’s still not that much like 50. Okay, so 50 a person versus 150 a person.

I would take. I would. If you want to be safe and sleep well. If I wanted to sleep well, I would take Phil’s recommendation and triple it. And it’s still pretty reasonable and not that much to do. You’re talking, you know, for your family to get through the end game. 5. $10,000 in today’s. Today’s dollars right now, probably. And everything else, like I said, put towards investment and saving, saving your community around you. And obviously, I mean, you’ll. You’ll know pretty quickly if I’m right or wrong in the end game. Like, the prices will reveal themselves, and I think I’m right.

So, you know, stack extra, and then when the end game hits and it turns out I’m right, then you have. You have extra silver to buy. To buy assets anyway, so you’re good. All right, Phil, that was good talking to you. And we will reconvene next month, if the world still exists.
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See more of Rafi Farber on their Public Channel and the MPN Rafi Farber channel.